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Dammit PPC turned , I did not buy...

 

Risky business

I am going to use this thread to look at risky investments, i.e. PPC, LON, MTN etc.. Please feel free to add.

NPN - 6%
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REVIEWED PROVISIONAL RESULTS
For the six month period ended 31 March 2016

Highlights
? GROUP REVENUE OF R4,5 BILLION ? DOWN 1%
? EBITDA UP BY 2% TO R1,1 BILLION 
? PROFIT IMPROVEMENT PROGRAMME REALISES AN ADDITIONAL R178 MILLION
? PROFIT FOR THE PERIOD UP 25% TO R351 MILLION
? EARNINGS PER SHARE UP 35% TO 70 CENTS INCLUDING SALE OF NON-CORE ASSETS
? RECENTLY COMMISSIONED PLANT IN RWANDA GENERATES 124 000 TONS IN CEMENT SALES VOLUMES
? CAPITAL RAISING PLANS PROGRESSING

 Events after the reporting date
                                                                                                       
         Post-period-end S&P downgraded PPC?s credit rating resulting in the long-term notes becoming payable in the short term and the notes have
         been reclassified accordingly (refer note 14). With the acceleration of the repayment of the notes, the liquidity of the group has been
         impacted. The group is in the final stages of securing bridging guarantee funding (refer note 14) which will assist with short-term
         liquidity requirements. In order to strengthen the capital structure of the group, a capital rights issue has been announced whereby the
         group anticipates to raise between R3 billion and R4 billion. This note should be read in conjunction with note 1 under the section
         going concern

phocket !!!

Pos. 683 Minus 2.04%